I am delighted to welcome you to our March Newsletter and say that after a very long time in recession, some 7 years now, Spain appears to be turning towards better times. Following on from the upturn in property sales during the final quarter of last year, the momentum has continued in to this year. Something which we did not dare hope for. Prices are still not recovering but at least we are starting to move some of the housing stock and that is a good sign not only for us but also for the wider economy. The Industry Minister thinks that construction could be underway again by 2016 so the future looks considerably brighter than it has for some time.
Holiday enquiries started earlier than usual this year for all areas of the coast and some clients wanting to make forward bookings in to 2015. Long term rentals for people wishing to try before they buy are also on the increase. Prices for all types of rental are still highly competitive and I believe they will remain so throughout this year. So the word discount will be featuring a lot in all negotiations. That said, at least people do want to come and holiday in Spain and we welcome them with open arms.
In this issue we have our usual money market view from James Baxter at Foremost Currency. A great article about the Spanish Architect David Seoane Perez, giving an insight to his life, his family, his passions and his love of both old and new architecture. We have a quick catch up on the new UK TV situation, also Energy Efficiency Certificates and some news about special offers from ENDESA plus an article about the Junta de Andalucia announcement that they will be introducing registration for all rental property, including rooms for rental. The directive is still filtering down to local level but nonetheless, if you rent out your property, you need to be aware of this new law and comply when the procedure is in place.
I hope you enjoy the newsletter.
Lesley McEwan, MD, Cadizcasa
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